Workforce Productivity Solution Drives 60% YoY Growth in Annual Recurring Revenue
AUSTIN, Texas–(BUSINESS WIRE)–#ElsewherePartners—ActivTrak, a provider of cloud-native workforce productivity and analytics solutions, today announced record results for 2019 including a 60% increase in year over year annual recurring revenue. The company closed the year by adding more than 600 new customers per quarter and 9,000 new freemium accounts per quarter, representing six consecutive quarters of double-digit growth and the strongest 12-month period in ActivTrak history.
ActivTrak also added high profile industry leaders to its Board of Directors and Advisors, including: Mike Bennett, former chairman/CEO/president of SolarWinds (Executive Chair and Board Director); Cam McMartin, former chief operating officer at SailPoint Technologies (Board Director); Gabriela Mauch, director of Global Organizational Design at McDonald’s (Advisor); and Josh Stephens, chief technology officer at Elsewhere Partners (Advisor).
“Today’s digital workplace offers operational scale and flexibility like we have never seen before. However, it also brings new challenges associated with data privacy and compliance, remote workforce management, and app proliferation,” said Rita Selvaggi, CEO of ActivTrak. “ActivTrak has seized this opportunity, providing visibility and analytics into how people work so organizations can better understand, predict, and improve business outcomes while managing to the demands of compliance and security. Our team achieved incredible results in 2019, paving the way for another high-growth year in 2020.”
ActivTrak milestones for the year ending December 31, 2019 included:
- Revenues: achieved a 60 percent increase in year-over-year annual recurring revenue and six consecutive quarters of double-digit growth.
- Funding: secured $20 million Series A investment from Elsewhere Partners.
- Customers: added more than 600 new customers per quarter and 9,000 new freemium accounts per quarter.
- Products: leveraged Google Cloud Platform and Services to provide enhanced security and AI, and give users the power to analyze their own big data.
- Accolades: consistently ranked one of the top-rated products in the market according to Capterra 4.5/5 (456 reviews); G2 Crowd 4.4/5 (High Performer Award); Gartner Peer Insights 5/5; Spiceworks 4.5/5; and Trustpilot 5/5.
- Awards: secured numerous industry awards including PCMag Editors’ Choice: Best Employee Monitoring Software for 2019; CyberSecurity Breakthrough: User Behavior Analytics Platform of the Year; CIO Applications: Top 10 Remote Monitoring Solution Providers; Lifehack: 10 Smartest Productivity Software to Boost Work Performance; and Business.com: Best Free Employee Monitoring Solution.
Employees: relocated headquarters to Austin, hired 25+ employees, and significantly expanded the leadership team, adding industry veterans with expertise scaling high-velocity, freemium business models focused on mid-market enterprises; key appointments include:
- Rita Selvaggi, CEO: https://www.linkedin.com/in/rita-selvaggi-59596/
- Justin Endres, Chief Revenue Officer: https://www.linkedin.com/in/justinendres/
- Shanel Vandergriff, Chief Marketing Officer: https://www.linkedin.com/in/shanelvandergriff/
- Javier Aldrete, Vice President Products: https://www.linkedin.com/in/javieraldrete/
- Heidi Farris, Head of Operations: https://www.linkedin.com/in/heidifarris/
The ActivTrak platform is a cloud-native workforce productivity and analytics solution that helps companies understand how and what people do at work. Unlike traditional employee monitoring solutions (that only provide a limited technical view of users), ActivTrak’s AI-driven solution identifies unique user behavior insights that connect actions, context, and intent across multiple digital environments. This helps companies maximize productivity, security, and compliance, and make better business decisions rooted in data. A free version of the award-winning solution can be configured in minutes to provide immediate visibility.
ActivTrak is a workforce productivity and analytics software company that helps organizations understand how and what people do at work. Its cloud-based user activity monitoring platform provides contextual data and insights that enable mid-market enterprises to be more productive, secure, and compliant. With more than 5,000 customers and over 100,000 users of its Free version, ActivTrak’s award-winning solution can be configured in minutes to provide immediate visibility and reporting. ActivTrak is backed by Elsewhere Partners and led by a team of seasoned software veterans. For more information, visit https://activtrak.com/ or follow ActivTrak on Twitter @activtrak.
FOLIO Communications Group, LLC